The USD/JPY pair broke down during the session on Friday but remains within the consolidation of area that we have been in for some time now. Because of this, we have no interest in trading this pair, but we do believe ultimately this market goes quite a bit higher. We think that the market will target the 120 handle, but the weekly candle suggests that we need to pull back a little bit beforehand in order to start buying. With that, we like this market selling and then forming a supportive candle below in order to start buying.
